Financial Freedom is a Choice

Women Entrepreneurs

For me, life is simple: be healthy, be happy, and be financially stable. Have the freedom both financially and emotionally to live life on your terms.

In my 23 years as a financial counsellor,  people have told me that money is not the key to happiness. “If you have enough money, you can have a key made”, I always replied.

Financial freedom is a choice! Choose Financial freedom and gift yourself a wonderful happy peaceful life!

How many of you are taking important financial decisions that will affect your well being?

To what does Financial Planning apply? It applies to business, targets, entertainment, traveling, family & children expenses, extracurricular activities etc. Financial planning, as I’ve been told, has to compete with these.

It can be difficult to know where to start; not fully understanding financial products and seeking advice could be intimidating, although not fully understanding the workings of the internal combustion engine doesn’t put us off buying cars. Subsequently, shopping for financial products requires time and hardly gives the instant gratification of botox, fillers, body contouring  or a trip to an exotic destination or just a trip to the mall!

Constantly bombarded with images of youth and beauty, and when it comes down to it, saving investments and life insurance just aren’t appealing enough. In addition, far from promising eternal youth and restructured beautification, Financial Planning compels you to confront the fact that you are going to get old, maybe sick and/or poor and grow dependent on others.

Money is the tool; the means that will give you the lifestyle you desire. Clothes, jewelry, accessories, maintenance of your personal appearance, entertainment, travel, property, etc. My advice to you? Step outside your “I’m O.K., it will never happen to me” comfort zone. Take responsibility. Plan YOUR financial independence. Take action!

Don’t confuse financial independence with financial security.  A monthly salary in your bank account ,or even worse, an allowance credit card from your spouse/partner alone, cannot render you capable of meeting all of your financial goals. It is how you plan and manage your finances that will result in fruition of goals later in life.

We are the women of the millennium trying to do it all and have it all. But how do we become financially independent when the kids are screaming, our husbands are demanding and our business associates are driving us crazy?

Here are some irrefutable facts:

  • Majority of women will spend almost 1/3 of their adult lives on their own financially,
  • Women enter times of transition when they marry, become mothers, widows, get divorced, start working and retire,
  • Women seem to have less time than men to manage their financial resources,
  • Women live longer than men by an average of seven years,
  • 50% of all women older than 65 are widows. Widows frequently suffer a sharp drop in their standard of living,
  • A large number of first marriages end in divorce,
  • A woman’s standard of living decreases as much as 45% following a divorce,
  • It is never too late to consider that a marriage will terminate and to plan for that termination,
  • Women are often responsible for the care of an elderly parent, both financially and emotionally,
  • Women typically earn less and spend less time in the work force,
  • Lower earnings may result in lower retirement pensions.

It is difficult during a time of financial and emotional transition to think and plan. Clearly there is a great deal at stake for women…single or married, of all ages, incomes and ethnic backgrounds. 

Nevertheless, women can overcome these barriers’ and learn how to build  their Financial Security. This is the time where women need to be at their most astute, financially.

Most of us live – and think – as if the world were static, or as if it should be. As individuals, as women, and as members or leaders of organizations, too often the way we act, plan, and react betrays the assumption that tomorrow will be much like today, that we’ll slide by all right if we just get a little better, a little smarter, at doing what we are already doing.

However, reality is very different.

Many women are not completely at ease or fully in charge of their money.

Moreover, nothing brings out emotions like the topic of money.

Culture and religion, particularly, play a role and women often use this as an excuse for not taking financial responsibility.  It is always easier to find excuses or point fingers.

Furthermore, these are the seven myths that women use as excuses for not taking personal financial responsibility:

  • Money is too complicated to understand,
  • If I take a risk, I will lose everything,
  • I don’t have money to save,
  • I don’t have time to manage my money,
  • It is selfish to put yourself first,
  • Someone else should be taking care of this for me,
  • If I take control of my money I might offend others.

Last but not least, FOCUS ON YOUR FINANCIAL SECURITY. Take charge of your finances, it will raise your morale and will help you stop feeling helpless. As simple as that.

Money is not the most important thing in life, but it’s reasonably close to oxygen on the “gotta have it” scale. – Zig Ziglar. 


By, Sandi Saksena, Entrepreneur & Empowerment Officer


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